Champ Titles Raised $18M from Point72 Ventures
Champ Titles Raised $18M from Point72 Ventures

Architect Partners was the exclusive Financial Advisor to Champ Titles.

Transaction Overview

On March 27, 2024, Cleveland-based digital title and registration platform Champ Titles announced an $18 million Series C equity round led by Point72 Ventures with participation by existing investors.

Company Description

Champ Titles provides a digital title and registration suite to streamline the vehicle titling process. Their platform enables the creation of legal, digital titles for easy transfer and verification, serving insurance carriers, lenders, state governments, auto dealers, and owners. Stakeholders, including state motor vehicle departments, lenders, and vehicle owners, benefit from a unified and transparent system, where all information is readily accessible and transaction times are markedly reduced. The governance of the digital platform is established through clear guidelines, ensuring all parties adhere to the updated processes and regulations.

Champ Titles’ success is measured by the elimination of more than 5 million pieces of paper annually on average per state; a reduction in processing time from 40-60 days to a matter of hours; increased productivity of DMV title clerks processing more than five times as many titles per day; and the improved experience for consumers in each state that has adopted Champ Titles’ solutions. Over the last twelve months, the company has successfully onboarded new states including New Jersey, Kentucky, and Illinois, and expanded its relationship with West Virginia by creating the first National Digital Titling Clearinghouse (NDTC). Through these efforts, the company has grown rapidly with revenue increasing by more than 300% year over year. 

Founded in 2018 by CEO, Shane Bigelow, the company now has 63 employees and is headquartered in Cleveland, Ohio. 


In this Series C funding round, Champ Titles raised $18M from Point72 Ventures and existing investors including W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, bringing the total amount raised since inception to $45M. 

In the prior Series B round, Champ Titles raised $13M from Guidewire Software, Eos Venture Partners, and Ally Ventures.

Before that, Champ Titles raised $13.5M in 2021 in a Series A. Emergents, now Architect Partners, served as the exclusive Financial Advisor for that financing. 


Champ Titles’ biggest competitors are existing state DMVs deciding to be a software company and developing solutions on their own or via large systems developers.  However, they also compete with other digital title networks such as Cario and Oxhead Alpha/Tezos. In addition, technology-enabled DMV solutions such as Fast Enterprises are seen as competitive but don’t offer the same efficacy.


Architect Partners’ Perspective

Champ Titles’ SaaS-based solutions present a compelling example of blockchain-enabled infrastructure solving real-world problems.  By focusing on the needs and pain points of legacy auto title, registration, and lien processing, Champ has leveraged the power of blockchain to transform critical government services.  The result is exponentially accelerated processing time for DMV constituents, with improved accuracy and reduced cost.  Yet Champ’s solutions capture many key benefits of on-chain data processing – which include trust, transparency, data integrity, security, and efficiency – without users even being aware of their blockchain foundations.  

While much attention is focused on recent resilience in crypto asset prices, we believe 2024 will see significant growth in non-speculative enterprise applications for distributed ledger technology.  Champ’s successful raise demonstrates investor interest in practical and scalable solutions to real-world problems.

Crypto M&A Snapshot

Week of May 13 – May 19

Eric F. Risley
May 19, 2024

As M&A practitioners, we always start with Strategic Rationale.  Further, it’s the strategic rationale from the acquirer’s perspective, not the seller’s.  Another simple way to state the same is, “why should the buyer care?”.  Taking the perspective of the acquirer is job number one.


Each acquirer is highly unique, even when engaged in the same business as peers.  For example, Coinbase and Kraken are both crypto asset brokers and exchanges, however, each has quite different current businesses and differing strategies to drive growth.  Crafting the strategic rationale to support an acquisition must reflect the unique nature of each acquirer.


McKinsey has nicely highlighted the strategic rationale that drives most acquisitions in the “Six Types of Successful Acquisitions”.  Their framework is a helpful tool, however, the following two themes most reflect the current state of the crypto and digital asset industry:


  • Acquire complementary and strategically important new products or services.  In emerging sectors like ours, these tend to be relatively early stage businesses with people, technology and products or services.  An example is Coinbase acquiring FairX to enter the crypto derivatives market.  Cisco, Apple, Facebook, Google, and many other technology businesses have executed this M&A strategy for decades


  • Geographic expansion to enter or augment countries or regions with similar current products or services.  This often includes complementary regulatory licenses to operate in the designated region such as Kraken’s acquisition of the Dutch-based and licensed, crypto brokerage BCM in October 2023. 


This effort to identify and articulate the strategic rationale is simply the starting point.  The next phase is arguably the most important, to build a Business Case.  The business case converts the rather high level strategic rationale into specific and tangible impacts, both financial and operational.  The business case is critical as one considers value.  More on that in the future.